H.R. 6381
Referred to CommitteeTo require the Board of Governors of the Federal Reserve System to provide zero-interest loans to minority depository institutions and community development financial institutions to combat COVID-19, and for other purposes.
Introduced 3/24/2020•116th Congress•House
Latest Action
Referred to the House Committee on Financial Services.
3/24/2020 • House
Summary
This bill requires the Federal Reserve Board to provide interest-free loans to small minority depository institutions and small community development financial institutions during the COVID-19 (i.e., coronavirus disease 2019) emergency period. The board must charge interest on these loans beginning 18 months after the end of the emergency period.
Introduced in House • 3/24/2020
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Topics & Subjects
Policy Area: Finance and Financial Sector
Bank accounts, deposits, capitalCardiovascular and respiratory healthEconomic performance and conditionsEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesInterest, dividends, interest ratesMinority and disadvantaged businessesPoverty and welfare assistance
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Related Federal Spending
Sponsor & Cosponsors (6)
Party Breakdown
6
Democrats
0
Republicans
0
Independents
Sponsor
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Cosponsors (5)
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Bill Journey
Originated in the House
Introduced
March 24, 2020
Referred to the House Committee on Financial Services.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Introduced in House3/24/2020